Franklin N. Saxon Sells 5,000 Shares of Culp Inc. (CFI) Stock
Culp Inc. (NYSE:CFI) CEO Franklin N. Saxon sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $29.88, for a total value of $149,400.00. Following the sale, the chief executive officer now directly owns 103,733 shares of the company’s stock, valued at $3,099,542.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Culp Inc. (NYSE:CFI) opened at 29.65 on Friday. The stock has a market cap of $364.87 million, a price-to-earnings ratio of 21.03 and a beta of 0.35. Culp Inc. has a 12-month low of $22.61 and a 12-month high of $34.30. The stock has a 50 day moving average price of $30.90 and a 200-day moving average price of $28.24.
Culp (NYSE:CFI) last posted its earnings results on Tuesday, August 30th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.07. Culp had a net margin of 5.60% and a return on equity of 18.84%. The company earned $80.70 million during the quarter. Equities analysts anticipate that Culp Inc. will post $2.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, September 29th. Culp’s dividend payout ratio (DPR) is currently 19.86%.
Several hedge funds and other institutional investors have recently bought and sold shares of CFI. Brown Advisory Inc. boosted its position in Culp by 7.0% in the second quarter. Brown Advisory Inc. now owns 407,770 shares of the company’s stock valued at $11,267,000 after buying an additional 26,526 shares during the period. Moors & Cabot Inc. boosted its position in Culp by 9.2% in the second quarter. Moors & Cabot Inc. now owns 11,852 shares of the company’s stock valued at $329,000 after buying an additional 1,000 shares during the period. Bank of Montreal Can bought a new position in Culp during the second quarter valued at $764,000. Victory Capital Management Inc. boosted its position in Culp by 11.5% in the second quarter. Victory Capital Management Inc. now owns 786,303 shares of the company’s stock valued at $21,726,000 after buying an additional 81,098 shares during the period. Finally, Royal Bank of Canada boosted its position in Culp by 7.1% in the first quarter. Royal Bank of Canada now owns 30,729 shares of the company’s stock valued at $805,000 after buying an additional 2,049 shares during the period. Institutional investors own 85.25% of the company’s stock.
Separately, Zacks Investment Research lowered Culp from a “hold” rating to a “sell” rating in a research note on Monday, June 20th.
Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.
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